Bank of America Securities analyst Wamsi Mohan maintained a Buy rating on Apple yesterday and set a price target of $325.00.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Wamsi Mohan has given his Buy rating due to a combination of factors tied to Apple’s resilient Services performance and long‑term growth outlook. He highlights that App Store revenue continued to grow in F1Q26, with higher spending per download, indicating that monetization is improving even as overall download growth moderates. He also points to ongoing diversification within Services, where non-gaming categories such as Productivity are gaining revenue share, reducing reliance on a single segment while Games remain a dominant contributor. Moreover, he models a double‑digit increase in total Services revenue, underscoring his confidence in this high‑margin business as a key driver of earnings growth.
At the same time, Mohan maintains that Apple’s strong capital return program supports shareholder value and justifies a premium valuation multiple. He argues that Apple is well positioned to become a leading player in on‑device (edge) AI, which adds upside optionality on top of the existing hardware and Services ecosystem. He also sees further potential from future products and new market opportunities, which are not fully reflected in the current share price. Based on these factors, he reiterates a Buy rating and keeps his price objective at $325, implying meaningful upside from the current trading level.
According to TipRanks, Mohan is a 5-star analyst with an average return of 22.6% and a 63.60% success rate. Mohan covers the Technology sector, focusing on stocks such as HP, Apple, and International Business Machines.
In another report released yesterday, Monness also maintained a Buy rating on the stock with a $300.00 price target.